Piramal Healthcare Ltd (erstwhile Nicholas Piramal), one of the major players in pharmaceuticals and healthcare sector, plans to set up a new research and development facility in Ahmedabad.
The company is expected to invest close to Rs. 100 crore for the greefield project.
"The new R&D facility will come up on the outskirts of Ahmedabad and it is likely to be operational by early next year," said said Girish Mehta, president and chief operating officer, Piramal Diagnostic Services, who was here in the city to launch Pirmal Diagnostics' first center in Ahmedabad.
Around 80 per cent of Piramal Group's total revenue comes from pharmaceuticals business and the upcoming facility would be for research and development in pharmaceuticals sector.
